IDEAS: Gas price normalisation important to drive sector’s growth
KUALA LUMPUR (Nov 8): The process of normalising gas prices between the domestic market and global prices is a critical step towards driving Malaysia’s gas production activities, said IDEAS senior fellow Prof Renato Lima de Oliveira. The normalisation, which is currently ongoing via the gas cost pass through (GCPT) mechanism, will make domestic sales profitable, […]
Sarawak awaits MoE to power 113 schools
KUCHING: The Sarawak government is still waiting for consent from the Ministry of Education (MoE) in Putrajaya to implement electricity connections to 113 schools in Sarawak. Assistant Minister of Education, Science and Technological Research Dr Annuar Rapaee said although the ministry had replied to their letter, their consent had not been given. He said the […]
Malaysia’s oil overdependence threatens attempts to shed debt
Analysts see downside risks to the oil price rally even in 2019. The Malaysian government has expressed plans to narrow their YoY budget deficit from 3.7% to 3.4% next year. However, analysts at Fitch Solutions stated that their forecasts remain at 3.7% as they dread that the country’s continued dependence on oil revenues pose risks […]
MVOT wins $176-mn equipment deal for Vietnam offshore gas project
Under the 7-year contract, MVOT, a joint venture between PetroVietnam Technical Services and Malaysia’s MISC Berhad, will provide a FSO to the Japanese firm for the development of the Sao Vang-Dai Nguyet gas field, PetroVietnam said. HANOI: Malaysia Vietnam Offshore Terminal (MVOT) has been awarded a $176 million contract to provide equipment for Idemitsu Kosan […]
Budget 2019: Household electricity bill subsidy increased
KUALA LUMPUR, Nov 2 ― The government will increase household electricity bill subsidy from RM20 and below to RM40 and below, said Finance Minister Lim Guan Eng. However, he said in line with the government’s intention to implement targeted subsidies, the channeling of the subsidy would be dedicated to the poor and hardcore poor registered with […]
UPDATE 1-Petronas supplies first LNG cargo to marine-fuel vessel ahead of IMO 2020
SINGAPORE, Nov 1 (Reuters) – Malaysia’s state energy firm Petroliam Nasional Bhd on Thursday supplied its first liquefied natural gas (LNG) cargo to a newly built LNG marine fuel supply vessel ahead of a new mandate for ships to switch to cleaner fuels in 2020. Petronas LNG, loaded the cargo onto the world’s largest LNG […]
Yeo: Malaysia can save at least RM47bil over 15 years by being more energy efficient
KUALA LUMPUR: The nation stands to save a minimum of RM47bil over the next 15 years if becomes more energy efficient, says Minister of Energy, Green Technology, Science, Climate Change and Environment Minister Yeo Bee Yin (pic). To work towards this, 50 government buildings will be retrofitted with energy efficient lightings and appliances by next […]
TNB connects first phase of Malaysia’s largest solar project to the grid
Major Malaysian utility Tenaga Nasional Bhd (TNB) has started supplying power to the national grid from a part-completed 50MW solar power project in Selangor, Peninsula Malaysia, which will be the largest project in the country once completed. The project, won in the government-led Large Scale Solar (LSS) auction by TNB’s subsidiary, TNB Sepang Solar Sdn […]